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Generating or suppressing Schedule M-3 in ProConnect Tax

SOLVEDby IntuitUpdated August 16, 2023

ProConnect Tax will automatically generate the Schedule M-3 based on the requirements from the form instructions.

Table of contents:

Who must file per the Corporate Schedule M-3 form instructions
Who must file per the Partnership Schedule M-3 form instructions
Who must file per the S Corporate Schedule M-3 form instructions
How to force or suppress the Corporate Schedule M-3
How to force or suppress the Partnership Schedule M-3
How to force or suppress the S-Corporate Schedule M-3

Who must file per the Corporate Schedule M-3 form instructions:

  • Any domestic corporation or group of corporations required to file Form 1120 that reports on Form 1120, Schedule K, Balance Sheets per Books, total assets at the end of the corporation's tax year that equal or exceed $10 million.
  • A corporation filing a non-consolidated Form 1120 that reports on Schedule L total assets that equal or exceed $10 million.
  • Any U.S. consolidated tax group consisting of a U.S. parent corporation and additional includible corporations listed on Form 851 required to file Form 1120, that reports on Schedule L total consolidated assets at the end of the tax year that equal or exceed $10 million.

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Who must file per the Partnership Schedule M-3 form instructions:

  • The partnership's total assets at the end of the tax year are $10 million or more.
  • The partnership's adjusted total assets at the end of the tax year are $10 million or more.
  • An entity that is a reportable entity partner with respect to the partnership owns or is deemed to own an interest of 50 percent or more in the partnership's capital, profit, or loss, on any day during the tax year of the partnership.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

Who must file per the S Corporate Schedule M-3 form instructions:

  • Any corporation required to file Form 1120S that reports on Schedule L of Form 1120S total assets at the end of the corporation's tax year that equal or exceed $10 million.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

How to force or suppress the Corporate Schedule M-3:

  1. Go to Input Return Balance Sheet Schedule M-1, M-3.
  2. Select Schedule M-3.
  3. Enter a 1 or a 2 in, Schedule M-3: 1 = force, 2 = suppress.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

How to force or suppress the Partnership Schedule M-3:

  1. Go to Input Return Balance Sheet Schedule M-1, M-3.
  2. Select Schedule M-3.
  3. Enter a 1 or a 2 in, Schedule M-3: 1 = force, 2 = suppress.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

How to force or suppress the S-Corporate Schedule M-3:

  1. Go to Input Return Balance Sheet Schedule M-1, M-3.
  2. Select Schedule M-3.
  3. Enter a 1 or a 2 in, Schedule M-3: 1 = force, 2 = suppress.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

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